Move Stock Is Moving Higher

Midway through the month of March, the top internet stock is clearly Move Inc. (MOVE: 7.79 0.00%). The stock is up 39% since the beginning of the month and has easily outperformed the 6% gain in the Nasdaq.

On March 4th, Move reported fourth quarter results that exceed Wall Street’s expectations. Fourth quarter revenue came in at $49.6 million, ahead of both the company’s guidance and the Street’s consensus estimates. Move’s stock jumped 16% following the news.

Move also updated their full year 2010 guidance and now expects revenue of $186 – $192 million and an adjusted EBITDA margin of 10%.

Despite Move’s 39% run-up this month, all is not rosy for the online real estate company. Revenue declined 14% in the fourth quarter and even at the high end of their guidance, revenues are expected to fall another 10% in 2010. A challenging real estate environment continues to present strong headwinds for the company.